Riot Blockchain Achieves Record Bitcoin Mining Amid Industry Growth and Challenges

Riot Blockchain Reports Record Bitcoin Mining Month

Riot Platforms Inc. (NASDAQ: RIOT) announced a significant milestone in March, mining 533 Bitcoins, marking its highest production since the Bitcoin halving nearly a year ago. This represents a 13% increase from February and a 25% rise compared to the same period last year. The company now holds 19,223 BTC in reserves.

Riot is also advancing its Corsicana facility in Texas, aiming to meet the growing demand for artificial intelligence (AI) and high-performance computing (HPC) infrastructure. A feasibility study by Altman Solon confirmed the site's potential for an additional 600 MW capacity for AI and HPC applications. Currently, the site operates with 400 MW of power and has a total capacity of 1.0 GW.

Despite seasonal reductions in power credits, Riot maintained low electricity costs at 3.8 cents per kWh and improved fleet efficiency by 22% year-over-year to 21.0 J/TH. However, Riot's stock has faced challenges, dropping 5.5% on Friday and losing 35% of its value since the start of the year.

“The Corsicana facility represents a strategic move to capitalize on the increasing demand for AI and HPC infrastructure,” Riot stated in its press release.

Key Takeaways:

533 Bitcoins mined in March, a 25% year-over-year increase.
Plans to expand Corsicana facility with 600 MW additional capacity.
Electricity costs remain low at 3.8 cents per kWh.

Core Scientific Expands Bitcoin Mining Operations

Core Scientific, Inc. (NASDAQ: CORZ) reported a productive March, mining 247 Bitcoins, up from 215 in February. The company operates 163,000 Bitcoin miners across nine data centers in the U.S., achieving a total hash rate of 19.1 EH/s. Its proprietary fleet contributes 18.1 EH/s, while hosting services for 7,000 customer-owned miners generated an additional 17 Bitcoins.

Core Scientific also demonstrated its commitment to supporting local power grids by returning 35,295 MWh of electricity. The company is modifying its facilities to support HPC workloads, particularly for AI applications. Despite these advancements, analysts note that Core Scientific's stock is trading above its fair value, even after achieving a 108% return over the past year.

Key Takeaways:

247 Bitcoins mined in March, a 14.9% increase from February.
Hash rate of 19.1 EH/s across nine U.S. data centers.
35,295 MWh of electricity returned to local grids.

HIVE Digital Technologies Focuses on Sustainable Bitcoin Mining

HIVE Digital Technologies has launched a new hydro-powered data center in Yguazú, Paraguay, with an initial capacity of 100 PH/s. The company plans to increase its global hash rate to 25 EH/s by the end of 2025, representing approximately 2% of the global Bitcoin network. In March, HIVE mined 108 Bitcoins, with an average daily production of 3.5 BTC.

The company emphasizes sustainability, using renewable energy sources at its facilities in Canada, Sweden, and Iceland. HIVE's energy-efficient mining fleet achieved a power consumption rate of 20.7 J/TH, with plans to deploy Bitmain S21+ Hydro miners, which are expected to improve efficiency to 15 J/TH.

Key Takeaways:

New hydro-powered facility in Paraguay with 100 PH/s capacity.
March production of 108 Bitcoins, with a daily average of 3.5 BTC.
Targeting 25 EH/s global hash rate by 2025.

Bitcoin Mining Stocks Face Market Challenges

According to IT-Boltwise, Bitcoin mining stocks are under pressure due to market uncertainties and increasing competition. Companies like MARA Holdings, Riot Platforms, and CleanSpark saw stock declines of 10% or more in early April. The global Bitcoin network's hash rate reached a record 1 Zettahash per second, intensifying competition among miners.

Additionally, the Bitcoin price dropped from $109,000 to $77,000, reducing mining revenues. The hash price, a measure of daily income relative to computational power, fell to a record low of $42.40. Experts suggest that companies focusing on efficiency and adapting to market conditions may find opportunities despite these challenges.

Key Takeaways:

Bitcoin mining stocks declined by over 10% in early April.
Global hash rate reached 1 Zettahash per second.
Bitcoin price dropped to $77,000, impacting mining revenues.

Sources:

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CryptoMinerBro77 am 08.04.2025

Really interesting to see Riot Blockchain hitting such high production numbers in March, especially when you think about the competition ramping up with companies like Core Scientific and HIVE doing their bit. 533 BTC in a single month is impressive, no question, but I wonder how sustainable it is given the dip in hash prices and overall market turbulence. For me, the electricity cost at 3.8 cents per kWh really stands out—it's not something you often see in this industry anymore, considering rising energy prices globally. How long can they keep that rate, though? Seems like a big gamble if that fails to hold.

I also spotted that Core Scientific managed 247 BTC in March, which is pretty solid, but their decision to support local power grids by returning electricity feels like it’ll pay off not just in PR but possibly regulatory goodwill down the line. A move like that could set them apart as the mining industry gets more scrutiny for its environmental impact.

As for HIVE and their hydro-powered operations, that’s honestly a model all these miners should be eyeing if they want long-term credibility with both the public and investors—especially as people are more critical of Bitcoin mining's carbon footprint. It makes me wonder, though, why companies like Riot aren't leaning harder into renewable energy. Sure, they’re aiming for AI and HPC expansions in Texas, but will AI infrastructure really face less scrutiny on power usage than Bitcoin mining?

And speaking of challenges, the stock declines across the sector feel like a big warning signal. The article said Riot's stock is down 35% this year... ouch. For all these companies, efficiency seems to be the key moving forward, but it's not just about better hardware—it’s about securing low-cost, sustainable energy and navigating market pressures like Bitcoin price swings. It feels like there’s a massive risk in putting so much focus on expansion while ignoring some of these other hurdles. What happens if the Bitcoin price keeps falling or hash rates skyrocket even more? Feels like a tough balancing act ahead for Riot, Core Scientific, and others.

Would love to hear if anyone else thinks AI infrastructure will have a better ROI or if this might be a risky pivot for some of these firms.

Article Summary

Riot Platforms achieved a record Bitcoin mining month in March with 533 BTC mined, while Core Scientific and HIVE Digital Technologies expanded operations focusing on efficiency and sustainability. Despite advancements, Bitcoin mining stocks face challenges from market uncertainties, declining prices, and rising competition as the global hash rate hits new highs.